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Australasia News
'Deeds, not words': mining firms reshape boardrooms as investors demand sustainability
By: Reuters Updated 1 hour 59 minutes ago Under fire after a string of high-profile disasters, mining firms are shaking up their boardrooms in response to criticism that they are failing to meet their own environmental, social, and governance standards. Shareholders are demanding change from an industry whose reputation has been... →
MRC could fast-track anode production
By: Esmarie Iannucci Updated 4 hours ago ASX-listed Mineral Commodities (MRC) has struck a non-binding memorandum of understanding (MoU) with Superior Graphite to fast track anode production into the European battery market. Under the terms of the MoU, the two companies would work together to form a joint venture (JV) that would use... →
Woodside still on the CEO hunt
By: Esmarie Iannucci Updated 5 hours ago Oil and gas major Woodside on Tuesday confirmed that CEO Peter Coleman would retire from the company on June 3 this year. The company last year flagged Coleman’s departure during the second half of 2021, after serving ten years at the helm of the ASX-listed company. →
Environmental efforts offering resource opportunities - BHP
By: Esmarie Iannucci Updated 7 hours ago Diversified major BHP believed that global de-carbonisation efforts would hold significant opportunity for the resources sector. BHP’s Minerals Americas president Rag Udd told the World Copper Conference, in Chile, that the push across the world to decarbonize would require substantial... →
Orocobre boosted by higher lithium prices
By: Esmarie Iannucci Updated 7 hours ago The Australian share price of lithium miner Orocobre climbed nearly 20c a share on Tuesday as the company announced a significant lithium price upgrade. The ASX and TSX-listed miner said on Tuesday that sales during the March quarter had reached 3 032 t at a price of $5 853/t free-on-board... →
Theta's underground study delivers
By: Esmarie Iannucci Updated 7 hours ago A prefeasibility study (PFS) into the ASX-listed Theta Gold Mines’ TGME underground project, in South Africa, has estimated that the project would cost some $79-million to develop. Theta Gold Mines on Tuesday told shareholders that the TGME underground project was expected to deliver some 419... →
IGO sells Tropicana for A$903m
By: Esmarie Iannucci Updated 7 hours ago Gold miner Regis Resources on Tuesday announced plans to raise A$650-million capital raise to partly fund the A$903-million buy of ASX-listed Independence Group’s (IGO’s) 30% interest in the Tropicana gold project, in Western Australia. Regis and IGO have inked a conditional binding agreement... →
Funding secured for Walkabout's Lindi Jumbo
By: Esmarie Iannucci Updated 7 hours ago Junior Walkabout Resources has secured a $20-million project finance facility for the construction of its Lindi Jumbo graphite mine, in Tanzania. The ASX-listed company on Tuesday said that its wholly owned subsidiary had inked a project finance facility with the CRDB Bank of Tanzania for a debt... →
Glencore signs MoU with Chinese company for carbon capture tech 
By: Tasneem Bulbulia 12th April 2021 The China Huaneng Group Clean Energy Research Institute and diversified miner Glencore have signed a memorandum of understanding (MoU) to cooperate on carbon capture use and storage (CCUS) technology, starting with Glencore’s Carbon Capture Transport and Storage Company (CTSCo) project at the... →
Weekly Coal Index Report
12th April 2021 As Anglo Coal forges ahead with listing Thungela Resources, Exxaro has sold its central block operations (Forzando, Dorstfontein) to Overlooked Coal. However, the mining houses are holding onto their coal export allocation, indicating that coal trading and marketing remains a key advantage for... →
Tombador readies for Brazilian start
By: Esmarie Iannucci 12th April 2021 Junior Tombador Iron is on track to start production at its namesake project in Brazil by the second quarter of this year, pending the award of regulatory approvals. The ASX-listed company on Monday announced that it had secured iron-ore export facilities, inking an agreement with the operator... →
Pantoro reaches milestone at Norseman
By: Esmarie Iannucci 12th April 2021 ASX-listed Pantoro has reached it’s A$50-million sole-fund milestone at the Norseman gold project, in Western Australia, forming an unincorporated joint venture (JV) with fellow-listed Tulla Resources. Pantoro on Monday told shareholders that as a 50% shareholder in the project, the company’... →
Antipa JV's exploration budget increases
By: Esmarie Iannucci 12th April 2021 The joint venture (JV) partners for the Citadel copper/gold project, in Western Australia, have increased the exploration budget for 2021 from A$13.8-million to A$24.5-million. ASX-listed Antipa Minerals on Monday reported that as a result of JV partner Rio Tinto Exploration sole funding more... →
Allegiance secures funding from GEAR
By: Esmarie Iannucci 12th April 2021 Coal developer Allegiance Coal has reached a A$15-million private placement agreement with Singapore-listed Golden Energy and Resources (GEAR). The private placement with GEAR comes just days after Allegiance Coal raised A$15-million through a private placement to sophisticated and... →
Strickland raises exploration funding
By: Esmarie Iannucci 12th April 2021 ASX-listed Strickland Metals will look to raise more than A$5-million through a pro-rata rights issue to fund exploration work in Western Australia. The company on Monday announced that it would undertake a two-for-three non-renounceable pro-rata entitlement offer, priced at 1.8c a share. →
Santos incentivises Gallagher to stay put
By: Esmarie Iannucci 12th April 2021 Oil and gas major Santos has awarded CEO and MD Kevin Gallagher a A$6-million incentive to remain at the company’s helm until 2025. The company on Monday confirm that the board had agreed to a once-off growth projects incentive to ensure that Gallagher would see through the delivery of Santos’... →
Gold Road's Tropicana buy not finalised
By: Esmarie Iannucci 12th April 2021 Gold miner Gold Road Resources has reportedly missed out on acquiring fellow-listed Independence Group’s (IGO’s) 30% share of the Tropicana gold mine, in Western Australia. Gold Road on Monday responded to media speculation about potential discussions with IGO around its interest in the joint... →
BHP, Vale Samarco JV files for Brazil bankruptcy protection
By: Reuters 10th April 2021 Samarco Mineracao, a joint venture between Brazilian miner Vale and BHP Group, has filed for bankruptcy protection to prevent creditors' claims from affecting its operations, Vale said in a Friday securities filing. The collapse of a dam at the Samarco mine complex in 2015 killed 19 people and... →
Kirkland Lake outperforms Q1 guidance
By: Mariaan Webb 9th April 2021 Gold miner Kirkland Lake on Friday announced its first-quarter results, exceeding its guidance on the back of higher-than-expected production at the Forsterville mine, in Australia, and the Detour Lake mine, in Canada. The company, which trades on the TSX, NYSE and ASX, produced 302 847 oz,... →
Investors oppose Rio Tinto pay report over rock shelter outrage
By: Reuters 9th April 2021 Shareholders, including Norges Bank and the Local Authority Pension Fund Forum (LAPFF), said they voted against Rio Tinto's remuneration report at its London annual meeting (AGM) on Friday. Rio Tinto in September dismissed former chief executive Jean-Sebastien Jacques and two deputies in... →
Coal production from top mining companies to increase in 2021, says GlobalData
By: Tasneem Bulbulia 9th April 2021 Coal production from the top world's ten mining companies fell from a collective 1.70-million tonnes in 2019 to 1.63-million tonnes in 2020, which is a 4.2% decline. The most significant declines were observed from Arch Resources (28.6%), PT Bumi (24.9%), Glencore (23.9%) and Peabody (21.8%),... →
Emerald on track for Q2 production
By: Esmarie Iannucci 9th April 2021 ASX-listed Emerald Resources is on track to start commissioning of its Okvau gold project, in Cambodia, by the second quarter of this year, with first gold pour also planned for the second quarter. “Our dedicated team in country has advanced the development of the Okvau gold project... →
Montem continues work in Alberta
By: Esmarie Iannucci 9th April 2021 ASX-listed coal developer Montem Resources has welcome the Alberta government’s decision to start an independent public consultation on a new coal development policy. The government’s plans to develop a coal policy followed its decision to rescind the 1976 coal policy in June of last year, and... →
Doing everything right - Greenland Minerals
By: Esmarie Iannucci 9th April 2021 ASX-listed Greenland Minerals on Friday moved to calm shareholder concerns around the future of the company’s Kvanefjeld rare earths project. The miner suspended share trading earlier this week after leader of the newly elected Inuit Ataqatigiit party told state broadcaster DR that the... →
Apollo raises exploration funds
By: Esmarie Iannucci 9th April 2021 Junior Apollo Minerals will raise A$3.25-million through a share placement to fund exploration at its Kroussou base metals project, in Gabon. The ASX-listed Apollo on Friday reported that it would place up to 50-million shares, at a price of 6.5c each to sophisticated investors. The placement... →
New Century flags lower costs
By: Esmarie Iannucci 9th April 2021 Zinc miner New Century Resources has flagged improved economics for its 2021 financial year as the annual zinc concentrate benchmark treatment charge (TC) reduced by 47% compared with the 2020 benchmark. The ASX-listed miner on Friday noted that the 2021 TC has been set at $159/t, compared with... →
Rio and Turquoise Hill strike funding deal for Oyu Tolgoi
By: Esmarie Iannucci 9th April 2021 Diversified major Rio Tinto on Friday announced a binding heads of agreement (HoA) with Canadian miner Turquoise Hill Resources for an updated funding plan to complete the Oyu Tolgoi underground copper project, in Mongolia. The funding plan addresses the remaining $2.3-billion funding... →
Coal output poised for growth this year after 2% fall in 2020
By: Marleny Arnoldi 8th April 2021 Research agency GlobalData expects global coal output to have declined by 2% in 2020 owing to Covid-19-related lockdowns and restrictions. Notably, significant reductions have been observed in the US at 23.6%, Indonesia at 13.1%, Russia at 8.1% and Australia at 5.5%. →
Coal's share in India's power mix hits highest in over 2 years
By: Reuters 8th April 2021 Coal's share in India's electricity generation rose to the highest level in at least nine quarters during the first three months of 2021, government data showed, reversing a trend of renewable energy gaining at coal's expense. The share of renewable energy rose in 2020 when overall power demand... →
UNPRI reviews Liberty Mutual membership over Australian coal mine plan
By: Reuters 8th April 2021 UNPRI, a United Nations-backed network that promotes sustainable investment, is reviewing the status of Liberty Mutual as a signatory after receiving a complaint that the US insurer is backing a coal project in Australia that has drawn fire from community groups worried about climate change and... →
Greenland halts trading as Kvanefjeld future questioned
By: Esmarie Iannucci 8th April 2021 ASX-listed Greenland Minerals went into a trading halt on Thursday after reports emerged that its Kvanefjeld rare earths project would be halted. Reuters earlier reported that the leader of the Inuit Ataqatigiit party, which won a snap election earlier this week, had told state broadcaster DR... →
Theta reports maiden underground reserve
By: Esmarie Iannucci 8th April 2021 Junior Theta Gold Mines has reported an initial maiden underground reserve of 419 000 oz of gold for its namesake project in South Africa. The company on Thursday noted that its global mining reserve now stood at 580 000 oz. →
Boab still focused on Sorby Hills
By: Esmarie Iannucci 8th April 2021 The Sorby Hill joint venture (JV) partners have recommitted to the project’s development, ASX-listed Boab Metals said on Thursday. Boab told shareholders that the company and its JV partner Henan Yuguang Gold and Lead Co have agreed to accelerate finalising the development and operations... →
Anglo American to demerge South African thermal coal assets
By: Martin Creamer 8th April 2021 Diversified mining and marketing company Anglo American is to demerge its South Africa thermal coal operations, the company said on Thursday. The demerger is subject to the approval of Anglo’s shareholders on May 5. Anglo American Coal South Africa CEO and World Coal Association chairperson July... →
St Barbara hits milestone at Lake Wells
By: Esmarie Iannucci 8th April 2021 Gold miner St Barbara has earned a 70% interest in fellow-listed Australian Potash’ Lake Wells gold project, in Western Australia, by meeting its expenditure commitments. The two companies in 2018 struck an earn-in and joint venture (JV) agreement over the Lake Wells project, under which St... →
Aurelia starts PFS at Federation
By: Esmarie Iannucci 8th April 2021 The board of ASX-listed Aurelia Metals have greenlit the start of a feasibility study for the Federation base and precious metals project, in New South Wales, following a positive scoping study. The scoping study confirmed that the Federation deposit was amenable to underground mining, and could... →
Piedmont increases lithium resource
By: Esmarie Iannucci 8th April 2021 Lithium miner Piedmont Lithium has reported a 40% increase in its lithium resource at its namesake project in North Carolina. The ASX-listed company on Thursday announced that to total mineral resource estimate for the Piedmont project now stood at 39.2-million tonnes, at 1.09% lithium oxide,... →
Govt unveils oil and gas changes
By: Esmarie Iannucci 8th April 2021 The federal government has approved a suite of measures to enhance and strengthen Australia’s offshore oil and gas decommissioning framework. The measures were developed as part of consultation on the Offshore Oil and Gas Decommissioning Review in December and January, and include strengthening... →
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